KUALA LUMPUR: The ringgit extended gains to end higher against the US dollar yesterday as more investors returned to emerging currencies, including the ringgit, due to the positive development on the Russia-Ukraine conflict, according to a dealer.

       At 6pm, the currency strengthened to 4.2030/2055 versus the greenback from 4.2120/2155 at Tuesday’s close.

       A dealer said the ringgit is poised for appreciation given the possibility of Russia’s de-escalation of its military operations.

       According to news reports, Russia and Ukraine are cautiously optimistic after negotiators concluded a round of peace talks, with Russia saying that it will reduce some military activity “to increase mutual trust.” — Bernama